With several projects hitting the market, 2017 and 2018 were considered “prove it” years for Downtown Los Angeles, and the market is taking the new supply in stride.

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Downtown Los Angeles is surviving its prove-it years. With several apartment projects delivering, 2017 and 2018 have been considered “prove it” years for the market. Despite the surge of new supply, the market continues to show strong multifamily absorption and rental rate growth, and in the first quarter of the year, occupancy increased nearly 5%, according to the latest report from the DCBID.

Kennedy Wilson reports that in conjunction with Ricks’ appointment, Peter Collins has assumed the role of president of Kennedy Wilson Europe, which is headquartered in London, and will report to Ricks.